Why is it important not to depend entirely on social

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Question One: Kenneth started saving for retirement at age 40 with plans to retire at age 70. He invested an average of $400 per month in various securities, with an average annual return of 7% adjusted for inflation. Assuming monthly compounding, how much has Kenneth saved at the start of retirement?

  • $487,988.40
  • $720,421.84
  • $37,784.31
  • $556,559.83

Question Two: Why is it important not to depend entirely on Social Security payments during your retirement years?

Reference no: EM132478275

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Why is it important not to depend entirely on social : Why is it important not to depend entirely on Social Security payments during your retirement years?
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